Teva- Pharmaceutical Industries Ltd.

a lot of it acquired by cheating.

Microsoft, a famously dodgy company, he has saved millions of people from polio and stuff like that.

He has done a lot of good things.

And why the current crop of billionaires and trillionaires are not doing that, I wonder if it's the switch from religious fundamentalism to market fundamentalism and you know, the mentality of Atlas Shrugged.

good segue

well a huge amount of these people didn't didn't pull themselves up by their bootstraps they inherited their wealth that's our old money

From memory, about 40% of the fortunes in that year's list had either been inherited from a previous generation or were already being passed on to the next generation in terms of the next generation having part control of the company.

So that's obviously a large amount of wealth that those people just simply haven't earned.

Remabrutinib studies and other indications continue, the company says.

Over at Teva, a deal has closed.

Teva completed its purchase of BioXcel Therapeutics neuroscience assets through a court-supervised bankruptcy sale.

It bought the assets, not BioXcel itself.

Those assets include worldwide rights to IGALMI, an under-the-tongue dexmedetomidine film approved for agitation associated with schizophrenia or bipolar I or II disorder in a hospital setting.

The same film is under FDA review for at-home use in adults under the code BXCL501.

That at-home application was filed as a supplement to IGALMI's existing approval.

Teva paid $57.5 million up front, with up to $67.5 million more in contingent payments, closing out the bid it made in August.

I have the fortune of being the CEO, the founding CEO of Ion Labs.

Island Labs, as you mentioned, is a unique coalition where we brought together four pharma companies, Pfizer, AstraZeneca, Merck from Germany, and Teva, together with Amazon Web Services, venture capital firms, and supported by the Israeli government, by the Israel Innovation Authority as a public-private partnership.

My personal journey, I'm originally American, moved to Israel a few decades ago as a kid.

and have been living in Israel ever since.

I'm a lawyer with an MBA, but I've worked in the pharma industry for about a decade and a half, for over a decade at Teva until I became the founder, founding CEO of Ion Labs.

Thank you.

So given that journey, given that background, it's needless to say that there are some great startups coming out of Ion Labs.

And this little company in Philadelphia had the most advanced drug.

He had just sold his company, Ivax, to Teva, was looking for the next opportunity.

He called and asked to meet and flew from Philadelphia to Miami and met.

We basically had a handshake deal at the first meeting and spent the next six months doing the transaction.

Now a different class, the TL1A antibodies, named for TNF-like ligand 1A.

Teva and Sanofi's Duvacatug reported 44-week maintenance data at 450 and 900 milligrams from its Phase IIb relief extension in UC and Crohn's disease.

In UC, clinical remission was 47% on the lower dose in 34 patients and 58% on the top dose in 38.

There's no placebo arm.

It's descriptive.

In Crohn's disease, Teva's table shows endoscopic response of 41% and 55% across the doses, in arms of just 27 and 31 patients.

Duva-Ketug ran every four weeks in the extension, with Phase III trials Sunscape and Starscape underway.

To my read, durability and that dosing interval will shape the race.

Then, Detective Price asks about anything upsetting that had happened recently, and Kay starts talking about the company.

There's a lawsuit, he says, from Teva, the Israeli generic drug giant involving Apotex's chief executive, a man named Jeremy Desai.

That lawsuit has apparently hurt employee morale.

And then Jack Kay says something that, by the standards of a 35-year partnership, is pretty remarkable.

Barry said the judge was wrong, that he would appeal, and that if they lost again, the business could absorb it.

Alex Glazenberg, according to his police statement summary, wasn't so sure, and quietly began selling off some of the SureFam's assets as a precaution.

In July, Teva filed its lawsuit in Pennsylvania.

Teva alleged that a former executive of theirs, who had a close personal relationship with Jeremy Desai, had emailed him confidential information about a drug in development.